Bitcoin might be making its big leap from the blockchain to the mainstream — and this year, it might make or break an election. Politics took center stage at the Bitcoin 2024 conference in Tennessee this past weekend, where Republican leaders addressed crypto maximalists, teasing tens of thousands of attendees with glimpses of what could come out of a big conservative win this November.

• Senator Cynthia Lummis (R-WY) announced plans to introduce legislation for a “strategic bitcoin reserve,” aiming to buy 1M bitcoins over five years to help reduce the national debt.
• Republican frontrunner Donald Trump likened the US crypto business to the early steel industry and promised to transform the US into “the crypto capital of the world.”

Reaction faction: Initial responses to the events at the flagship Bitcoin conference were timid — with Bitcoin’s price falling following Trump’s speech. However, as Democratic frontrunner Kamala Harris reportedly seeks a “reset” with crypto companies, the mood in the crypto industry has struck a new, optimistic tone. Bitcoin nearly surpassed $70K on the report, with the recent bipartisan embrace being seen as a sign that the industry might finally be coming of age after years of volatility and chaos.